Mike is a retired stock broker, and now published author of Gold Rush!. In addition, he is a freelance writer specializing in real estate, personal finance and home decor now writing from San Miguel, Mexico.

It appears that we are going to be getting a rebate as part of an economic stimulus package.
From Breitbart.com

Individuals who pay income taxes would get up to $600, working couples $1,200 and those with children an additional $300 per child under the agreement. Workers who make at least $3,000 but don’t pay taxes would get $300 rebates.

The checks will start going out “…in May, and most people could have them by July.”

I have two questions. Is it a rebate if you are one of those who doesn’t pay taxes? Should we save the money, pay down debt or spend it? The answer is an individual one, but probably depends on your outlook for the economy.

As for me, Christmas was just a month ago, I got a flat-screen TV, and I have opened all my presents for my birthday on the 15th. My wants have been slaked. I might save mine.

4 Responses to “The Rebate Check Will Be In The Mail!”

A couple of ladies at work were complaining about how it’s a stupid thing (this rebate) and how it’s basically moving money from one pocket into the other (which I basically agree with, but I’d never tell *them* that). They went on about how mad Bush made them with this proposal and I offered “well, you’re always welcome to send it back to the government…”

you could hear the crickets chirping.

Hubby and I, however, may splurge and buy new recliners (ours are both hand-me-down, are both very old, and are shot!)

washington observer// Jan 29, 2008 at 11:10 pm

I am sending mine back. Not sure how to do that, but I don’t want it.

I haven’t quite worked out the wording in my head but it will be something like this…….

“I am reluctant to accept money from an unknown source. I do not like to be indebted to anyone, which I will be if I accept.

I took the time to fulfill what I thought was my obligation to pay my taxes. It appears that my government did not need all of the tax money it required me to pay for its expenditures, so please apply my returned check to the national debt”

Sincerely, my name

A citizen of he United States of America

—————————-

It infuriates me that they play stupid games like this with us.

If Ron Paul can send money back to the U.S. treasury, then so can I.

Mover Mike// Jan 30, 2008 at 12:36 am

washington observer: I like the sentiment, BUT…the government used all you sent plus it borroweed to spend more. They will create out of thin air this $150 Billion. My advice: take the money and buy yourself a one ounce gold coin. Exchange something worthless for something of value.